'India stands to gain immensely by forging a developmental partnership with China.' 'While through sustained strategic communication there is scope to steadily expand the commonality of interests between the two countries.' 'This is also a practical way to ensure that differences do not get over-magnified and become disputes,' says Ambassador M K Bhadrakumar.
Outlining eight "pillars" for the future of India-China relations, President Pranab Mukherjee on Wednesday underlined the need for comprehensively resolving challenges including the boundary question through "political acumen" and "civilisational wisdom".
'Washington senses that the anchor sheet of India's strategic autonomy lies in its longstanding partnership with Russia, which remains firm and immutable despite the changes in world politics in the post-Cold War era,' notes Ambassador M K Bhadrakumar.<
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
Amid souring ties, the president visited Beijing for three days. On his return to India, a hope of better ties has arisen, says senior correspondent R Rajagopalan, who travelled with Pranab Mukherjee to the Asian superpower.
'This has to be seen in the context not only of the legacy we inherited, but also of global economic weakness.'
'If after inheriting the very bad situation we have reached this level despite consecutive years of drought and no growth in the world economy, it is no accident.' 'It is a result of the sound macro economic policies followed by this government.' 'We have eschewed populism and stuck to a path of fiscal prudence.'
In a recent lecture, RBI governor Raghuram Rajan dished out some frank advice -- don't get into 'jugaad', instead try for the long haul. Only that will sustain in the long-run.
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
